Assignment 19A

1) I’m a finance student who is hard working and I am determined to achieve my goals no matter what it takes. My career aspirations are to break into investment banking and then go to the buy side at a private equity firm or hedge fund. Regarding my aspirations, experiences and skills that I have which will help me are my current internship at a mezzanine fund and I have learned how to build financial models and analyze data. If I were to start a business around my idea, I would have to really be interested in doing it and have those interests outweigh my current ones because I would have to give it my all. Currently though, I do not see myself actually doing this because I don’t have any capital to start a business and I don’t have the time to give all of my effort towards it.

2) I am offering a mobile heating and cooling system that could be sold to the customer in the form of cups, bowls, plates, and other containers. This would allow you to immediately heat, cool, or keep your drinks and food while transporting or storing them. Not only does this usually keep the food or drinks tasting better since they are not microwaved or left out to cool, but it provides the instant gratification that many people seek in this day and age.

3) All of my customers have the need for food and drinks in common. On the drinks side, they all have to drink hot drinks and want them to cool down a little bit because they are too hot, or warm up if they are too close to room temperature. On the food side, I think the customer is anyone that might bring lunch to work and could use a container that keeps the food warm like a crock pot without the bulk and weight of one. This product could also be used outside of a work setting for families that want to take food for a picnic to the park or other day trips. I also see this product being used in more formal settings as well for different events.

4) My product is completely mobile so there is no need for a microwave or to go find ice to cool something down. It also wouldn’t change the flavor of the food or drink like ice and microwaves do. So they care because it allows for easy, on the go, and quality heating and cooling of their food and drinks.

5) I don’t think this has been done before so it is a new-ish idea. I don’t necessarily think that I am some entrepreneur wiz that has a leg up on everyone else but I think if I really wanted to pursue this that I would work hard enough to make it work and if it didn’t I would cut my losses.

Feedback Memo:

I think that besides the fact that I don’t actually see myself trying to create this product, the elements involved in this business idea fit together pretty well. But, because I don’t want to start this business, it will surely never succeed. With regard to feedback that I received on the last idea napkin, I think that two things I took away from it were the fact that people are always seeking instant gratification, and that my idea can always develop by expanding my target segment and usefulness of the product.